1099 "Box-7" information should be converted to 1099 "NEC-01" information
Beginning in tax year 2020, IRS 1099 "Box 7" no longer exists on IRS form 1099. The U.S. government has discontinued the use of this box. For 2020 (and beyond), this box has been replaced by IRS 1099 "NEC-01". Of course, this box exists to show compensation to non-W2 workers. In the one compa...
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Completed